Taysha Gene Therapies (NASDAQ:TSHA) Stock Price Up 6.1% Following Analyst Upgrade

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) shares shot up 6.1% during trading on Friday after Canaccord Genuity Group raised their price target on the stock from $8.00 to $9.00. Canaccord Genuity Group currently has a buy rating on the stock. Taysha Gene Therapies traded as high as $2.77 and last traded at $2.72. 2,145,633 shares changed hands during trading, a decline of 24% from the average session volume of 2,831,870 shares. The stock had previously closed at $2.56.

A number of other research firms have also recently issued reports on TSHA. Needham & Company LLC reissued a “buy” rating and set a $6.00 price objective on shares of Taysha Gene Therapies in a research report on Thursday, April 10th. Chardan Capital reissued a “buy” rating and set a $7.00 price objective on shares of Taysha Gene Therapies in a research report on Wednesday, February 26th. Cantor Fitzgerald reissued an “overweight” rating and set a $7.00 price objective on shares of Taysha Gene Therapies in a research report on Monday, April 28th. Finally, JMP Securities reissued a “market outperform” rating and set a $5.00 price objective on shares of Taysha Gene Therapies in a research report on Monday, April 28th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $6.57.

Institutional Investors Weigh In On Taysha Gene Therapies

A number of institutional investors and hedge funds have recently made changes to their positions in TSHA. Barclays PLC raised its holdings in shares of Taysha Gene Therapies by 356.0% in the 3rd quarter. Barclays PLC now owns 247,280 shares of the company’s stock worth $513,000 after acquiring an additional 193,046 shares during the last quarter. Quantum Private Wealth LLC increased its stake in Taysha Gene Therapies by 3.6% in the 4th quarter. Quantum Private Wealth LLC now owns 794,976 shares of the company’s stock valued at $1,375,000 after buying an additional 27,360 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Taysha Gene Therapies by 33.1% in the 4th quarter. Bank of New York Mellon Corp now owns 450,261 shares of the company’s stock valued at $779,000 after buying an additional 111,989 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Taysha Gene Therapies by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 474,257 shares of the company’s stock valued at $820,000 after buying an additional 11,390 shares during the last quarter. Finally, E Fund Management Co. Ltd. purchased a new stake in Taysha Gene Therapies in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 77.70% of the company’s stock.

Taysha Gene Therapies Stock Performance

The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.51 and a current ratio of 5.51. The stock has a market cap of $553.65 million, a PE ratio of 4.29 and a beta of 0.90. The company’s 50 day simple moving average is $1.72 and its 200 day simple moving average is $1.82.

Taysha Gene Therapies (NASDAQ:TSHA) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). Taysha Gene Therapies had a negative net margin of 229.67% and a negative return on equity of 106.36%. The firm had revenue of $2.30 million during the quarter, compared to analyst estimates of $1.48 million. During the same quarter last year, the business posted ($0.10) EPS. Analysts expect that Taysha Gene Therapies, Inc. will post -0.35 earnings per share for the current year.

Taysha Gene Therapies Company Profile

Taysha Gene Therapies, Inc, a gene therapy company, focuses on developing and commercializing adeno-associated virus-based gene therapies for the treatment of monogenic diseases of the central nervous system. It primarily develops TSHA-120 for the treatment of giant axonal neuropathy; TSHA-102 for the treatment of Rett syndrome; TSHA-121 for the treatment of CLN7 disease; TSHA-118 for the treatment of CLN1 disease; TSHA-105 for the treatment of for SLC13A5 deficiency; TSHA-113 for the treatment of tauopathies; TSHA-106 for the treatment of angelman syndrome; TSHA-114 for the treatment of fragile X syndrome; and TSHA-101 for the treatment of GM2 gangliosidosis.